New Mexico is home to 1.5 million drivers—and plenty of tourists who come to enjoy the scenery.
Although the state is very rural, 87% of New Mexico residents live in urban centers. Cities are associated with higher risk, especially places like Albuquerque and Santa Fe that suffer from serious traffic congestion. This usually means higher premiums.
The best way to get cheap car insurance is to compare quotes and carriers. Each insurer uses its own formula to determine premiums, weighing factors such as location, age, gender, driving history, and vehicle type. This means that car insurance rates can vary substantially from one insurance company to another, even within the same state.
Jerry offers a quick and convenient way to compare quotes and switch plans. Want to give it a try? Enter your ZIP code to get cheap car insurance quotes from the best insurance companies in New Mexico. If you want to learn more about New Mexico’s car insurance rates, then read on.
Cheapest minimum coverage car insurance in New Mexico
In New Mexico, people are required to have the following minimum coverages:
$[25,000] bodily injury liability per person
$[50,000] bodily injury liability per accident
$[10,000] property damage liability per accident
Failing to meet the required minimums while driving in New Mexico is illegal. If you get caught, you could be subject to license suspension, fines, and vehicle impoundment.
Remember, the minimum insurance coverage is a requirement, not a recommendation. In some cases, minimum liability car insurance won’t cover all your expenses in the event of an accident. If you can afford to pay for more coverage, it’s generally a good idea to purchase a more comprehensive policy.
Here’s how much Jerry users pay for minimum liability car insurance in New Mexico:
Additional coverages you might want to consider when shopping for car insurance in New Mexico
Coverage to consider
Uninsured motorist protection helps cover any damages incurred as a result of an accident with a driver who doesn’t carry insurance.
High collision risk
If you get into an accident with another vehicle, collision insurance will cover repair costs for your car.
Flash floods & landslides
Comprehensive insurance will cover physical damage to your car, including from a severe weather event like flash flooding or landslide.
New Mexico presents two major problems for drivers: a high percentage of uninsured drivers and poor quality rural roads. You should consider getting more than the minimum coverage to protect you and your vehicle from these risks
Best carriers for minimum coverage car insurance in New Mexico
Comparing rates with different insurers can help you find the most affordable coverage so that you don’t have to go without.
Here’s how much Jerry customers pay for minimum liability coverage with various carriers in New Mexico:
While minimum coverage is enough to let you drive legally in New Mexico, full coverage—which includes comprehensive and collision insurance—offers stronger protection and can provide peace of mind. Look for a company that offers the protection you need and service you can rely on.
Cost to insure your car in New Mexico by age
Insurers value driving experience. The younger you are, the less experience you have, which will likely be reflected in higher insurance premiums.
While you’re unlikely to enjoy the same low rates as your parents, you can still get cheap car insurance quotes by shopping around and maintaining a clean driving record. No matter your age—whether you live in rural New Mexico or in a city—start by quote shopping with Jerry.
The price you pay for car insurance is influenced by your age and your driving record. Safe drivers typically get lower rates, but it’s still possible to find affordable insurance in New Mexico if you have a traffic violation on your record.
Types of discounts that might be available to you in New Mexico
Never underestimate a good discount. If you want to find cheap car insurance quotes, be sure to take advantage of any car insurance discounts that are provided by insurance companies in New Mexico. Here are some to keep an eye out for:
Customer loyalty (e.g. bundling, early renewal)
Demographic (e.g. good student, senior)
Driver affiliations (e.g. military, affinity)
Driving history (e.g. accident-free, safe driver)
Driver training (e.g. defensive driver course)
Equipment-related (e.g. anti-theft, new car)
Payment (e.g. auto-pay, paperless)
New Mexico allows insurers to consider factors like age, marital status, and zip code when they set your car insurance premium.
Some of the most common car insurance discounts in New Mexico include:
Who is eligible?
Driver safety discounts
Drivers in New Mexico who have been accident-free for several years can usually get a “safe driver” discount.
Defensive driving discounts
New Mexico drivers can qualify for a 5% discount by taking an approved defensive driving course. The course teaches how to avoid accidents, assess weather and traffic conditions, and drive safely. Check with your provider about approved programs.
Good student discounts
If you’re under 25 and a full-time student, you could get a huge discount on your car insurance premium. There’s also a “student away at school” discount for families where a child under 25 lives away from home and only drives during vacations.
Bundling your policies
Get your car and home policies from the same company and you could enjoy a reduced premium
By installing a small device in your car to track driving behavior, New Mexico drivers can get rewards and discounts just for driving safely! It’s free to enroll and the company ships the device right to your doorstep.
So, how do you know which discounts you can actually benefit from?
Jerry can help you determine which discounts you qualify for, and it will automatically include them in real-time quote comparisons.
Most customers are eligible for some kind of discount on their premium—often, more than one!—but you may need to ask your insurance company which ones you qualify for.
How much does it cost to insure my car make in New Mexico?
The most popular car in New Mexico is the Nissan Altima, a mid-size sedan that has great safety ratings. Generally, cars with good safety ratings and good fuel economy can be insured affordably.
If you drive a relatively inexpensive car, you can generally expect to pay lower insurance premiums. This is because it will cost less to repair or replace a common car than a rare and expensive vehicle.
If you drive fewer miles, you may also pay less for insurance because you’re less likely to get into an accident.
Here’s what you can expect to pay to insure some other popular car makes/models with and without Jerry:
Just as car insurance rates vary by state, they can also vary by city and ZIP code. Drivers in cities tend to pay more than drivers in rural areas because urban centers have higher rates of accidents, thefts, and claims.
New Mexico may only have a few metropolitan centers, but incoming tourists contribute to traffic problems in the warmer months. Statistics show that June is the month with the highest traffic fatality rate in New Mexico. It is also the month with the highest rate of alcohol-involved fatalities.
All of these factors contribute to the cost of an insurance premium in New Mexico.
To get cheap car insurance, you may want to consider raising your deductible. When you file a claim, the deductible is the amount of money you have to pay out of pocket before your car insurance kicks in to cover the remaining balance. If you increase your deductible, this could lower your premium—but be aware that this means you’ll incur higher initial out-of-pocket costs in the event of an accident.
It’s also a good idea to update your car insurance to reflect any major life changes that have occurred since you received your last auto insurance quote. For example, if you’ve gotten married, you may be offered lower rates because married people are perceived to be safer drivers. Or if you’ve moved to a rural area, you may qualify for reduced rates because you’re less likely to get in an accident and file a claim.
It can be hard to keep track of your car insurance renewals while also juggling your own daily obligations. That’s why Jerry reassesses your premium every six months. At each renewal period, Jerry can help you make any relevant updates and ensure you get the lowest possible price for your coverage.
Want to find out if you’re overpaying? Let Jerry do the work for you.
Unless otherwise specified, these estimates are based on drivers older than 30 who have good driving records. These are real people who have signed up with Jerry in the last six months.